DOCSLIB.ORG

Zbwleibniz-Informationszentrum

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Zbwleibniz-Informationszentrum A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Knotzer, Nicolas Book — Digitized Version Product Recommendations in E-Commerce Retailing Applications Forschungsergebnisse der Wirtschaftsuniversität Wien, No. 17 Provided in Cooperation with: Peter Lang International Academic Publishers Suggested Citation: Knotzer, Nicolas (2008) : Product Recommendations in E-Commerce Retailing Applications, Forschungsergebnisse der Wirtschaftsuniversität Wien, No. 17, ISBN 978-3-631-75452-8, Peter Lang International Academic Publishers, Berlin, http://dx.doi.org/10.3726/b13971 This Version is available at: http://hdl.handle.net/10419/182850 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by/4.0/ www.econstor.eu FORSCHUNGSERGEBNISSE DER WIRTSCHAFTSUNIVERSITÄT WIEN Nicolas Knotzer Product Recommendations in E-Commerce Retailing Applications FORSCHUNGSERGEBNISSE DER WIRTSCHAFTSUNIVERSITÄT WIEN Nicolas Knotzer Product Recommendations in E-Commerce Retailing Applications The book deals with product recommendations generated by information systems referred to as recommender systems. Recommender systems assist consumers in making product choices by providing recommendations of the range of products and services offered in an online purchase environment. The quantitative research study investigates the influence of psychographic and sociodemographic determinants on the interest of consumers in personalized online book recommendations. The author presents new findings regarding the interest in recommendations, importance of product reviews for the decision process, motives for submitting ratings as well as comments, and the delivery of recommendations. The results show that opinion seeking, opinion leading, domain specific innovativeness, online shopping experience, and age are important factors in respect of the interest in personalized recommendations. Nicolas Knotzer studied business administration with the focus on information systems, management control and project management. From 2001 to 2006 he joined the Institute for Management Information Systems at the Vienna University of Economics and Business Administration. The author received his doctoral degree in 2006. Product Recommendations in E-commerce Retailing Applications Forschungsergebnisse der Wirtschaftsuniversitat Wien Band 17 PETER LANG Frankfurt am Main · Berlin · Bern• · Bruxelles· New York· Oxford · Wien Nicolas Knotzer Product Recommendations in E-commerce Retailing Applications £ PETER LANG lnternationaler Verlag der Wissenschaften Blbllographlc Information published by the Deutsche Natlonalblbllothek The Deutsche Nationalbibliothek lists this publication in the Deutsche Nationalbibliografie; detailed bibliographic data is available in the internet at <http://www.d-nb.de>. Open Access: The online version of this publication is published on www.peterlang.com and www.econstor.eu under the interna- tional Creative Commons License CC-BY 4.0. Learn more on how you can use and share this work: http://creativecommons. org/licenses/by/4.0. Q) =!! This book is available Open Access thanks to the kind support of ZBW – Leibniz-Informationszentrum Wirtschaft. Cover design: Atelier Platen according to a design of the advertising agency Publique. University logo of the Vienna University of Economics and Business Administration. Printed with kindly permission of the University. Sponsored by the Vienna University of Economics and Business Administration. ISSN 1613-3056 ISBN 978-3-631-56622-0 ISBN 978-3-631-75452-8 (eBook) © Peter Lang GmbH lnternationaler Verlag der Wissenschaften Frankfurt am Main 2008 All rights reserved. All parts of this publication are protected by copyright. Any utilisation outside the strict limits of the copyright law, without the permission of the publisher, is forbidden and liable to prosecution. This applies in particular to reproductions, translations, microfilming, and storage and processing in electronic retrieval systems. Printed in Germany 1 2 3 4 5 7 www.peterlang.de Abstract The book deals with product recommendations generated by information sys- tems referred to as recommender systems. Recommender systems assist con- sumers in making product choices by providing recommendations of the range of products and services offered in an online purchase environment. The quan- titative research study investigates the influence of psychographic and sociode- mographic determinants on the interest of consumers in personalized online book recommendations. The book starts with an introductory chapter that sets out the research goal and presents the organization of the work. In Chapter 2 the author establishes working definitions, introduces a general classification and presents application models and business goals of recommender systems. Further, a model of the consumer decision process and the relevancy of virtual commwuties for recommendation purposes is described. Chapter 3 reviews functional aspects of recommender systems. Input and output data, measure- ment scales for preference elicitation as well as recommendation methods a.re elaborated in detail. Chapter 4 describes the research model, the hypothe- sis, and the methodology. The results of the empirical study a.re presented in Chapter 5. Structural equation modeling and regression analysis a.re used to verify the hypotheses. The author presents new findings regarding the interest in recommendations, importance of product reviews for the decision process, motives for submitting ratings and comments, and the delivery of recommen- dations. In particular the results show that ophuon seeking, opinion leading, domain specific innovativeness, online shopping experience, and age are impor- tant factors in respect of the interest in online recommendations. The book clos«:>,s with an chapter that summarizes the results, shows limitations of the research conducted, and points out directions for further research. V Acknowledgements Foremost, I would like to thank my supervisors Prof. Hans Robert Hansen and Prof. Gustaf Neumann. I am very grateful for the discussions, suggestions, and insights that helped me to complete this doctoral dissertation. In the last four years Prof. Hansen has given me a very productive and agreeable working environment and helped me to grow as a researcher as well as a person. Further, I would like to thank my colleagues at the Institute for Manage- ment Information Systems and the Institute for Information Systems and New Media, especially Maria Madlberger, Bernd Simon, Horst 1\·eiblmaier, and Christina Stahl. Last, but not least, my thanks go to my family and Katrin. I am very indebted to you. Without your support and patience the writing of this book would have not been possible. vii Contents 1 Introduction 1 1.1 Research Goal . 1 1.2 Contents and Organization . 3 2 Recommender Systems - Definition, Classification, and Mar- keting Perspectives 5 2.1 Working Definitions . 6 2.2 Classification . 7 2.3 Application Models of Recommender Systems 11 2.3.1 Broad Recommendation Lists ... 11 2.3.2 Customer Comments and Ratings . 12 2.3.3 Notification Services ........ 14 2.3.4 Product Associated Recommendations 15 2.3.5 Persistent Personalization 16 2.4 The Consumer Decision Process 18 2.4.1 Need Recognition . 20 2.4.2 Information Search 20 ix CONTENTS 2.4.3 Pre-Purchase Evaluation of Alternatives 23 2.4.4 Purchase ........ 28 2.4.5 Post-Pw-chase Processes 31 2.5 Virtual Communities . 34 2.5.1 Characteristics and Benefits 35 2.5.2 Virtual Communities and Network Effects 36 2.5.3 Community Building . 38 3 Recommender Systems - Functional Perspectives 47 3.1 Input Data of Recommender Systems . 48 3.2 Output Data of Recommender Systems 52 3.3 Measurement Scales for Preference Elicitation 57 3.4 Infonnation Delivery . 58 3.5 Recommendation Methods 59 3.5.1 Non-Personalized Recommendation Methods. 61 3.5.2 Personalized Recommendation Methods ... 63 3.5.2.1 Synopsis of Information Filtering Methods . 65 3.5.2.2 Human Approaches towards Information Fil- tering . 67 3.5.2.3 Collaborative Filtering . 68 3.5.2.4 Attribute-Based Filtering 73 3.5.2.5 Rules-Based Filtering . 76 X CONTENTS 4 Research Model, Hypotheses, and Methodology 79 4.1 Problem Statement . 79 4.2 Research Questions and Model . 80 4.3 Methodology and Research Design . 86 5 Results 91 5.1 Descriptive Results .............. 91 5.1.1 Sample Size and Demographic Data . 92 5.1.2 Internet Usage 99 5.1.3 Online Shopping
Load more

Recommended publications
  • Movie Recommendation System Using AI and ML
    International Journal of Research in Engineering, Science and Management 365 Volume-2, Issue-11, November-2019 www.ijresm.com | ISSN (Online): 2581-5792 Movie Recommendation System using AI and ML Celeste Murnal1, Deepika2 1Student, Dept. of Computer Science and Engineering, New Horizon College of Engineering, Bangalore, India 2Sr. Assistant Professor, Dept. of Computer Science and Engg., New Horizon College of Engg., Bangalore, India Abstract: This paper presents an overview on Movie sold out and as a result of this the shopkeeper recommends the Recommendation System using AI and ML person to buy cake ‘Y’ which is made up of ingredients similar to cake ‘X’. This is an instance of content-based filtering. Keywords: movie recommendation system Fig. 1. displays the flow of information in a content based recommendation system. Relevant entities of an item and 1. Introduction relations are kept together as input. Main features of items are Recommendation systems help users find and select items extracted from item ontology. Features of items, user's ratings (e.g., books, movies, restaurants) from the huge number and user modeling data 30 are applied to content based available on the web or in other electronic information sources. recommender system. After applying, various recommended Given a large set of items and a description of the user’s needs, items are given as output. they present to the user a small set of the items that are well suited to the description. Similarly, a movie recommendation system provides a level of comfort and personalization that helps the user interact better with the system and watch movies that cater to his needs.
    [Show full text]
  • A Movie Recommender System: MOVREC Using Machine Learning Techniques Ashrita Kashyap1, Sunita
    ISSN 2321 3361 © 2020 IJESC Research Article Volume 10 Issue No.6 A Movie Recommender System: MOVREC using Machine Learning Techniques Ashrita Kashyap1, Sunita. B2, Sneh Srivastava3, Aishwarya. PH4, Anup Jung Shah5 Department of Computer Science & Engineering SAIT, Bengaluru, Karnataka, India Abstract: This paper discuss about recommendations of the movies. A movie recommendation is important in our social life due to its strength in providing enhanced entertainment. Such a system can suggest a set of movies to users based on their interest, or the popularities of the movies. A recommendation system is used for the purpose of suggesting items to purchase or to see. They direct users towards those items which can meet their needs through cutting down large database of Information. A recommender system, or a recommendation system (sometimes replacing 'system' with a synonym such as platform or engine), is a subclass of information filtering system that seeks to predict the "rating" or "preference" a user would give to an item[1][2]. They are primarily used in commercial applications. MOVREC also help users to find the movies of their choices based on the movie experience of other users in efficient and effective manner without wasting much time in useless browsing. Keywords: Filtering, Recommendation System, Recommender. I. INTRODUCTION emphasizing other attributes when a user "likes" a song. This is an example of a content-based approach. Recommender systems usually make use of either or both collaborative filtering and content-based filtering (also known as Each type of system has its strengths and weaknesses. In the the personality-based approach),[3] as well as other systems above example, Last.fm requires a large amount of information such as knowledge-based systems.
    [Show full text]
  • The Use of Recommender Systems in Demand Management in Intelligent Supply Chain Management
    The Use of Recommender Systems in Demand Management in Intelligent Supply Chain Management Qi Zhang A research paper submitted to University of Dublin, in partial fulfilment of the requirements for the degree of Masters of Science Interactive Digital Media 2018 I Declaration I have read and I understand the plagiarism provisions in the General Regulations of the University Calendar for the current year, found at: http://www.tcd.ie/calendar I have also completed the Online Tutorial on avoiding plagiarism ‘Ready, Steady, Write’, located at http://tcd- ie.libguides.com/plagiarism/ready-steady-write I declare that the work described in this research paper is, except where otherwise stated, entirely my own work and has not been submitted as an exercise for a degree at this or any other university. Signed: _________________________ Qi Zhang 10/05/2018 II Permission to lend and/or copy I agree that Trinity College Library may lend or copy this research paper upon request. Signed: _________________________ Qi Zhang 10/05/2018 III Acknowledgments I would sincerely like to thank my supervisor, Fatemeh Golpayegani, for all of her guidance and support throughout the process of completing this paper. IV Summary With the rapid development of internet technology, electronic commerce (e-commerce) has become a new development direction of the application of internet technology. E-commerce has the characteristics of opening, global, offering low cost and high efficiency services. The traditional supply chain cannot match the speed of the development of e-commerce, as a result, the intelligent supply chain management shows up and plays an important role in e-commerce.
    [Show full text]
  • Information and Recommender Systems
    Information and Recommender Systems Advances in Information Systems Set coordinated by Camille Rosenthal-Sabroux Volume 4 Information and Recommender Systems Elsa Negre First published 2015 in Great Britain and the United States by ISTE Ltd and John Wiley & Sons, Inc. Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licenses issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned address: ISTE Ltd John Wiley & Sons, Inc. 27-37 St George’s Road 111 River Street London SW19 4EU Hoboken, NJ 07030 UK USA www.iste.co.uk www.wiley.com © ISTE Ltd 2015 The rights of Elsa Negre to be identified as the author of this work have been asserted by her in accordance with the Copyright, Designs and Patents Act 1988. Library of Congress Control Number: 2015948079 British Library Cataloguing-in-Publication Data A CIP record for this book is available from the British Library ISBN 978-1-84821-754-6 Contents Introduction ........................................... vii Chapter 1. A Few Important Details Before We Begin ....... 1 1.1. Information systems ................................. 1 1.2. Decision support systems ............................. 2 1.3. Recommender systems ............................... 3 1.4. Comparisons ...................................... 4 1.5. Recommendation versus personalization.................. 5 1.5.1.
    [Show full text]
  • Lifelog Which Can Provide a Holistic View of User Activity and Behavior
    Mining Mind Master Presentation Contents MM V3.0 Contents / 2 Data CurationLayer Information CurationLayer Knowledge Curation Layer Service CurationLayer Supporting Layer Data Curation Layer (DCL) Curating Multimodal Sensory data for Health and Wellness Platforms Background / 4 • The focus of healthcare and wellness technologies has shown a significant shift towards personal vital signs devices • Healthcare providers are focusing on when, where, and how; care and support are delivered to the particular patient and service consumer • Most prevalent diseases are partly caused or aggravated by poor lifestyle choices that people make in their daily routine Image source : http://www.southcoasthealthandwellness.com/integrative-medicine/ Motivation for Data Curation / 5 • Advent of smart and personal devices • Healthcare providers want to empower people to take care of their health and wellness by providing them with timely, ubiquitous, and personalized support • Most current solutions are single-device focused and have a limited scope • Unable to generate a context-rich user lifelog which can provide a holistic view of user activity and behavior • A context-rich lifelog is also a low-cost way to acquire valuable user information on which effective interventions from healthcare professionals can be based Image source: http://mobihealthnews.com/17827/docomo-omron-healthcare-launch-connected-health-venture-in-japan Data Curation as a Framework (DCF) / 6 Responsibilities 1. Device Independent sensory data acquisition 2. Curation of context-rich user lifelog ▪ Acquisition of multimodal raw sensory data in real-time 3. Monitoring of user lifelog for push-based interventions ▪ Synchronization of multimodal raw sensory data in a distributed 4. Support for the evolution and re-usability of sensory data ▪ Preparation of data instances for context 5.
    [Show full text]
  • Distributed Implementation of the Triplets View
    CS535 Big Data 4/8/2020 Week 11-B Sangmi Lee Pallickara CS535 Big Data | Computer Science | Colorado State University CS535 Big Data | Computer Science | Colorado State University CS535 BIG DATA FAQs • Today is the last day of discussion period for Session III on Piazza • Watch video clips on Canvas à Assignments à Echo360 • Term project phase 1 (Proposal) • Feedbacks are available in Canvas PART B. GEAR SESSIONS • Please arrange a meeting if needed SESSION 4: LARGE SCALE RECOMMENDATION SYSTEMS AND SOCIAL MEDIA Sangmi Lee Pallickara Computer Science, Colorado State University http://www.cs.colostate.edu/~cs535 CS535 Big Data | Computer Science | Colorado State University CS535 Big Data | Computer Science | Colorado State University Topics of Todays Class • Part 1: Distributed implementation of Triplets View in GraphX • Recommendation Systems • Part 2: Introduction and Content based recommendation systems GEAR Session 3. Big Graph Analysis • Part 3: Collaborative Filtering (Case study of Amazon’s Item-to-Item model and Netflix’ Latent Factor Model) Lecture 3. Distributed Large Graph Analysis-II GraphX: Graph Processing in a Distributed Dataflow Framework Distributed Implementation of the Triplets View CS535 Big Data | Computer Science | Colorado State University CS535 Big Data | Computer Science | Colorado State University Efficient lookup of edges Index Reuse • Edges within a partition are clustered by source vertex id using a compressed sparse • GraphX inherits the immutability of Spark row (CSR) representation and hash-indexed by their
    [Show full text]
  • A Recommender System for a Legal Search Engine Bachelor Thesis at Bluetick J.W
    A Recommender System for a Legal Search Engine Bachelor Thesis at Bluetick J.W. Nelen J.M. Nederlof T.R.D. van Graft M.P.C. van der Werf Delft University of Technology A Recommender System for a Legal Search Engine Bachelor Thesis at Bluetick by J.W. Nelen J.M. Nederlof T.R.D. van Graft M.P.C. van der Werf To obtain the Bachelor degree of Computer Science and Engineering at the Delft University of Technology, Faculty of Electrical Engineering, Mathematics and Computer Science To be defended publicly on Thursday January 28, 2021 Project duration November 9, 2020 ­ January 29, 2021 Thesis committee C.C.S. Liem TU Delft, Coach T.A.R. Overklift TU Delft, Bachelor Project Coordinator K. Kooijman Bluetick, Client This thesis is confidential and cannot be made public until January 29, 2021 An electronic version of this thesis is available at http://repository.tudelft.nl/. Preface This report concludes the TI3860 Bachelor­project course, a mandatory course in the bachelor program of Computer Science and Engineering at the Delft University of Technology. We want to thank everyone involved that made our project at Bluetick possible. In specific, we would like to thank Cynthia, our coach from the university, who was a great source of inspiration during the whole project. Her constructive feedback highly contributed to the quality of the final product. Additionally, we would like to thank Kasper, the CPO of Bluetick, for his enthusiasm, faith, availability and patience during this project. Lastly, we would like to thank everyone else at Bluetick namely Koen, Martijn, Thijs, Daniel, Lotte, Pelle and Marlies for their frequent feedback and insights crucial for this project’s success.
    [Show full text]
  • Recommendation Engine for Predicting Best Rated Movies 1
    International Journal of Advanced Science and Technology Vol.110 (2018), pp.65-76 http://dx.doi.org/10.14257/ijast.2018.110.07 Recommendation Engine for Predicting Best Rated Movies 1 Vivek P. Khadse, Akhil P, Syed Muzamil Basha, N.Ch.S.N. Iyengar2 and Ronnie D. Caytiles3 VIT, Vellore-632014 2Sreenidhi Institute of Science and Technology, Ghatkesar, Hyderabad, India 3Multimedia Engineering Department, Hannam University, Daejeon, Korea [email protected] Abstract Recommendation systems are a subclass of information filtering system that seek to predict the "rating" or "preference" that a user would give to an item. Recommendation systems have become extremely common in recent years, and are utilized in a variety of areas: some popular applications include movies, music, news, books, research articles, search queries, social tags, and products in general. For this study, we are considering movie recommendation system based on content from a movie dataset. Generally, two types of filtering methods used in recommendation system are content based filtering and collaborative based filtering. For this study, we are using these two methods not only on single but on different contents of movie information like rating, genre. Our recommendation engine would consider previously stored ratings and genre of the movie selected by user, to train the system and project movie name list that the user may like. In this study, for building the recommendation engine we have used content based algorithms and collaborative filtering algorithms available in GraphLab package in python. Finally, these two methods are compared to show which recommendation engine algorithm works better compared to other for most of the time.
    [Show full text]
  • Recommender Systems: an Algorithm to Predict
    RECOMMENDER SYSTEMS: AN ALGORITHM TO PREDICT \WHO RATE WHAT" by RAHUL SINGHAL Presented to the Faculty of the Graduate School of The University of Texas at Arlington in Partial Fulfillment of the Requirements for the Degree of MASTER OF SCIENCE IN COMPUTER SCIENCE THE UNIVERSITY OF TEXAS AT ARLINGTON December 2010 Copyright c by RAHUL SINGHAL 2010 All Rights Reserved To my Parents, Brother and Friends. ACKNOWLEDGEMENTS I would like to thank my supervising professor Dr.Chris Ding for constantly motivating and encouraging me, and also for his invaluable advice during the course of my Masters studies. I wish to thank my committee members Dr.Heng Huang and Dr.Chengkai Li for their interest in my research and for taking time to serve in my dissertation committee. I would like to thank my parents and friends for constantly encouraging and inspiring me to continue my masters studies. Finally, I would like to express my deep gratitude to my Father who have encouraged and inspired me and sponsored my undergraduate and graduate studies. I am extremely fortunate to be so blessed. November 19, 2010 iv ABSTRACT RECOMMENDER SYSTEMS: AN ALGORITHM TO PREDICT \WHO RATE WHAT" RAHUL SINGHAL, M.S. The University of Texas at Arlington, 2010 Supervising Professor: Chris H.Q. Ding Recommender systems are systems that recommend content for us by looking at certain factors including what other people are doing as well as what we are doing. Examples of such systems present today are Amazon.com recommending books, CDs, and other products; Netflix recommending movies etc. These systems basically rec- ommend items or movies to customers based on the interests of the present customer and other similar customers who purchased or liked the same item or movie.
    [Show full text]
  • A Survey on Recommendation System Tanya Maan1, Shikha Gupta2, Dr
    A Survey on Recommendation System Tanya Maan1, Shikha Gupta2, Dr. Atul Mishra3 1,2Deptt. of Computer Engineering, YMCA University of Science and Technology, Haryana (India) 3Deptt. of Information Technology & Computer Application, YMCA University of Science and Technology, Haryana (India) ABSTRACT In the past years ,the way of communication have been changed between the web and the users. With the ample amount of data being present on the web,it became very important to use filtering techniques to find our interest of information. Recommendation systems has its applications in almost every field including e-commerce, e- bussiness, e-government, e-library, e-learning etc. In this paper, we introduce various filtering techniques to ease our work of finding relevant information.Content based and collaborative techniques are the most widely used and are discussed in the paper with their pros and cons. However, the newest research in this area- Hybrid recommendations are also included in this paper. Keywords: Recommendation Engine, Machine learning, Collaborative filtering, Content based filtering, Hybrid filtering. I. INTRODUCTION Since the appearance of the first papers on collaborative filtering since the mid-1990s [1,2,3], Recommender systems became an important research area.The interest in this area still remains high because of its applications, which help users deal with the information overload and provide personalized recommendations to them. With the immense increase in the amount of information available, retrieving information of our interest has became very difficult. With the development of Information Retrieval systems such as Google, Alta Vista, the task of retrieving information has become quite easy but upto some extent.
    [Show full text]
  • Design and Training of a Recommender System on an Educational Domain Using Topic & Term-Frequency Modeling
    Uppsala universitets logotyp 21026 Examensarbete 30 hp Maj 2021 Design and training of a recommender system on an educational domain using Topic & Term-Frequency modeling Max Netterberg & Simon Wahlström Civilingenjörsprogrammet i system i teknik och samhälle Civilingenjörsprogrammet i system i teknik och samhälle Uppsala universitets logotyp Design and training of a recommender system on an educational domain using Topic & Term-Frequency modeling Max Netterberg & Simon Wahlström Abstract This thesis investigates the possibility to create a machine learning powered recommender system from educational material supplied by a media provider company. By limiting the investigation to a single company's data the thesis provides insights into how a limited data supply can be utilized in creating a first iteration recommender system. The methods include semi structured interviews with system experts, constructing a model-building pipeline and testing the models on system experts via a web interface. The study paints a good picture of what kind of actions you can take when designing content based filtering recommender system and what actions to take when moving on to further iterations. The study showed that user preferences may be decisive for the relevancy of the provided recommendations for a specific media content. Furthermore, the study showed that Term Frequency Inverse Document Frequency modeling was significantly better than using an Elasticsearch database to serve recommendations. Testing also indicated that using term frequency document inverse frequency created a better model than using topic modeling techniques such as latent dirichlet allocation. However as testing was only conducted on system experts in a controlled environment, further iterations of testing is necessary to statistically conclude that these models would lead to an increase in user experience.
    [Show full text]
  • Factorization Machines, Visual Analytics, and Personalized Marketing Suneel Grover, Advisory Solutions Architect, SAS Institute Inc
    SAS3087-2019 Factorization Machines, Visual Analytics, and Personalized Marketing Suneel Grover, Advisory Solutions Architect, SAS Institute Inc. and Professorial Lecturer, The George Washington University (Department of Decision Science - School of Business) ABSTRACT Competition in customer experience management has never been as challenging as it is now. Customers spend more money in aggregate, but less per brand. The average size of a single purchase has decreased, partly because competitive offers are just one click away. Predicting offer relevance to potential (and existing) customers plays a key role in segmentation strategies, increasing macro- and micro-conversion rates, and the average order size. This session (and the associated white paper) covers the following topics: factorization machines and how they support personalized marketing; how SAS ® Visual Data Mining and Machine Learning, SAS® Decision Manager, and SAS® Customer Intelligence 360 support building and deploying factorization machines with digital experiences; and a step- by-step demonstration and business use case for the sas.com bookstore. INTRODUCTION Why does your organization’s website or mobile app exist? What are you hoping to accomplish with your business by being digital? What are the most important priorities for your digital presence? Here are three goals that most organizations share: ● Sell more stuff. ● Make marketing more effective. ● Delight customers. Goals are specific strategies leveraged to accomplish business objectives. Let’s walk through one of the examples cited above. What does sell more stuff actually mean? ● Do x (more cross-sell or upsell efforts). ● Improve y (increase conversion rates). ● Reduce z (reduce abandon cart rates). Every brand offers a digital experience for a reason (for example, if you’ve ever used Amazon or Netflix, you’ve experienced the value of recommendation systems firsthand).
    [Show full text]